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The upward direction of the Livepeer market started on the 20th of October at the support of $8,40. The price trended up dragging the bears along with it. The bears have proven themselves to be formidable, but the bulls are having the upper hand. Bears are very strong at $9.40, but the buying pressure was able to break the resistance.
Livepeer Market Price Statistic:
- LPT/USD price now: $10.37
- LPT/USD market cap: $251,470,382
- LPT/USD circulating supply: 24,988,160.06
- LPT/USD total supply:25,866,594
- LPT/USD coin market ranking: #129
Key Levels
- Resistance: $11.00, $11.50, $12.00
- Support: $9.50, $9.00, $8.500
Livepeer Market Price Analysis: The Indicators’ Point of View
The force behind the upward-trending LPT market is still very strong, though traders are quick to take profits. On the 3rd of November, the market saw a very strong bullish market. And at the peak of the
bulls market, some traders close their long position. However, the Bollinger Indicator responded to the bullish activities. The upper band followed along with the rising price. As the price attains the $10.72 resistance level in today’s trading session, the bulls market is faced with strong resistance. Bulls and bears are currently in a tug-of-war for the price. The type of candle pattern that we are seeing for today’s trading session may be an implication that the bullish trend is weakening all too soon.
LPT/USD 4-Hour Chart Outlook
The $10.72 resistance level is proving to be a very difficult price level for the bulls market. After hitting this price level, bears began to gain the upper hand and the price began to slide downward slightly. However, the bear market did not go too far before it encounters bullish support in the 20th hour of yesterday’s market. Because of this intensifying market struggle, the Bollinger bands are contracting again. The buying pressure is weakening.
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Source: https://insidebitcoins.com/news/livepeer-price-prediction-for-today-november-5-lpt-usd-bulls-contend-for-market